Tim Cook spoke with Goldman Sachs' analyst Bill Shope at Goldman's technology conference this morning. We listed to the interview and our live notes are below.

Here is the high level summary of what Cook said:

• Apple doesn't have a "depression-era" mentality when it comes to cash, despite what David Einhorn said. He says Apple has paid out a lot to shareholders and is actively looking at how to do more.

• He thinks Einhorn's lawsuit is a silly sideshow. What Apple is trying to do is make it better for common shareholders, and Einhorn is actually trying to make things worse.

• Apple has done ~6 acquisitions per year over the last few years, and they're mostly small companies. Apple has looked at big companies, but passed because it wasn't a good fit. Apple could do big acquisitions if it really wanted, but it's not going to buy revenue. Only smart people and good products.

• Apple's culture of innovation is based on the fact that it can do hardware, software, and services. At the intersection of these three, Apple has "magic," and its rivals are trying to catch up.